Friday, October 16, 2026

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FxWirePro: AUD/USD rejected at major resistance 0.7730, holds 5-DMA support, bias higher

AUD/USD edges lower after rejection a major trendline resistance at 0.7730. The pair has taken support at 5-DMA currently at 0.7689, weakness only on break below. Techs support upside in the pair, break above trendline r…

By FxWirePro Team
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FxWirePro: AUD/USD rejected at major resistance 0.7730, holds 5-DMA support, bias higher
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  • AUD/USD edges lower after rejection a major trendline resistance at 0.7730.
     
  • The pair has taken support at 5-DMA currently at 0.7689, weakness only on break below.
     
  • Techs support upside in the pair, break above trendline resistance at 0.7730 could see upside upto 0.7835 levels.
     
  • Our previous call (http://www.econotimes.com/FxWirePro-AUD-USD-upside-stalls-shy-of-077-handle-bias-higher-good-to-long-dips-384633) has hit all targets.
     
  • Major support levels - 0.7689 (5-DMA), 0.7656 (Nov 7 low), 0.7639 (20-DMA)
     
  • Major resistance levels - 0.7730 (trendline), 0.7734 (Oct 20 high), 0.7749 (Aug 16 high)
     
  • Markets await the outcome of US elections, while China's trade data dampened the sentiment around the AUD.
     
  • We would prefer to wait for clear direction before entering into any trade.
     

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By FxWirePro Team